Not just credit card debt, all of it. Car loans? student loans? I owe about 17K on my car, which is worth about 12K. If I had it to do over again, I wouldn't have bought a new one. I most likely will never buy a new car again. I'd rather buy a 2 year old car AFTER it's depreciated (instead of before). Cars are horrible investments, no reason to buy a new one IMO when you can get a 2 or 3 year old car that is like new for 1/3 of the price. I also have a 10K home improvement loan. I paid my way through school, so I don't have any school loans and I paid off my CC's back in 2001, but my wife has some CC debt leftover from college. As soon as I sell my house, we're going to start the Debt Snowball method. Hopefully we will be debt free in a couple of years and we can pay cash for everything (besides a house) for the rest of our lives and never have another payment to worry about.
OOOhhh this is painful for me to think about, but I know it could be worse... I owe 24K for a car, I owe about 15K on all my credit cards combined. But that's it. I'm trying really hard to make those numbers go down much quicker, but it still seems like it's not happening fast enough. The car will be paid off in 4.25 years, so I'm hoping I can make the credit card debt disappear by then too.
20k in student loans and of course my wookie life debt. He'll play you in chess, then sell you back your arms.
So nobody owns a home with a mortgage? I have a $215K mortgage on my $550K home. I also have about $17K on a car. No credit card, equity, or student balances.
Only house and cars....nothing else.....and I could pay them both off, but choose to invest instead. DD
Don't even use the word investment with cars. They don't go hand in hand unless you're talking about some classic. For me, no debt at all including house. But I'm about to buy a new house and that will put me about $460k into debt.
The half of mortgage for a 144k house. The half of washer/dryer, fridge and the living room set which is probably 10k all together. 13k car (next time, I will just buy an used car that is 1-2 years old. I just can't wait to pay my damn car off! I'm in my second year.) 6500k personal loan $450 cc the usual bills and i have to save money for the wedding. anyone want to donate?
I will never for the life of me understand why anyone would buy a new car. I have about $1300 in cc debt at the moment.
Believe me, the best investment you can make is to pay off those 20% credit cards!! I have credit cards, but pay them off each month. The only other payment I have outside of utilities is my wife's RV.
I paid off my car and student loan earlier this year, so the only debt that I have now is about 95k on my home mortgage.
